The Cleveland Cavaliers are expected to extend a $3.4 million qualifying offer to Rodney Hood by Friday, according to a report from Cleveland.com’s Joe Vardon.
The offer will make Hood a restricted free agent, meaning he can sign an offer sheet with any team, but the Cavaliers can retain him by matching the terms of that offer.
Hood, 25, was traded this past year from the Utah Jazz to the Cleveland Cavaliers in exchange for Jae Crowder. The trade was part of a three-team deal. At the time, the lefty was averaging 16.8 points per game.
After the trade, Hood averaged 10.8 points per game for the Cavaliers in the regular season. He then had an up-and-down playoffs, including a stretch in which he did not play in three straight games. But in Game 3 of the NBA Finals, Hood exploded for 15 points.
Hood has averaged 13 points and three rebounds per game for his career. According to Vardon, Hood is one of only two Cavaliers players that the Cavaliers can pay more than $5.3 million to sign — the other being LeBron James.
James has until Friday to make a decision on his $35.6 million option, but he is expected to opt out.
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